Revolut Suspends US Crypto Services: Impacting 1% of Global Users

Revolut Suspending Cryptocurrency Services in US

• Revolut’s suspension of cryptocurrency services in the United States will affect 1% of their total global user base.
• Cryptocurrency-friendly trading neobank Revolut is wrapping up its crypto services in the United States amid ongoing regulatory uncertainty.
• Some major crypto services have also been struggling to continue servicing their customers in the United States recently.

Background

Cryptocurrency-friendly trading neobank Revolut is wrapping up its crypto services in the United States amid ongoing regulatory uncertainty. Soon after announcing a partial delisting of certain digital assets from its platform, Revolut took a decision to suspend all crypto services for U.S. users, the firm said in a statement to Cointelegraph on Aug. 4. Together with its U.S. banking partner, Revolut will work to suspend access to crypto through its platform starting Sept. 2 and completely shut down crypto services on Oct 3. The firm said that this decision will affect “just 1%” of their global customer base and that they understand the disappointment it may cause.

Delisting of Certain Digital Assets

In late June, Revolut US announced the delisting of cryptocurrencies including Cardano’s ADA (ADA), Polygon’s MATIC (MATIC) and Solana’s ADA (SOL). The company was planning to proceed with delistings in September and as of July supported a total of roughly 30 cryptocurrencies in the United States.